The firm says the common view that  men are more likely than women to want to spend time overseas has created barriers to the development of women in financial services and to the growth of the industry.

According to the PwC report, ‘Women of the world: Aligning gender diversity and international mobility in financial services’ nearly nine in ten (88%) of women believe that international experience is critical to furthering their career, but only 13% say their employer has a programme in place that positions international assignments as a core part of an employee’s career plan.

Getting on for half (45%) of women surveyed believe the biggest barrier to their ability to work abroad is the perception within their company that women with children do not wish to do so. Furthermore, almost a third (30%) believe that entrenched mind-sets favouring men for international assignments are a barrier to opportunities for women to work abroad.

More than half (52%) of women working in finance do not feel there are enough role models of successful international assignees in their organisation, compared to 32% of men.

The report also found men in financial services (77%) are more likely to prefer to undertake an international assignment before starting a family, compared to 73% of women. Only 17% of women cited the wellbeing and education of their children as a concern that would make them think twice about embarking on an international assignment, compared 22% of men.

In an industry in which 70% of CEOs see the limited availability of skills as a threat to their growth prospects, financial services companies are missing out on the advantage of moving talent to meet demand, PwC argues.

The research found 42% of women say their organisation has no clear view of employees who would be willing to be internationally mobile when, in fact, more women (66%) than men (60%) say they would be happy to work abroad at any stage in their career.

To their detriment, firms are choosing international assignees from a talent pool that is far narrower than necessary

Jon Terry, PwC’s financial services HR consulting leader, said: ‘International mobility should be a key strategic priority for financial firms, helping to bridge skills gaps and develop future leaders.

‘To their detriment, firms are choosing international assignees from a talent pool that is far narrower than necessary. Moreover, the lack of transparency in highlighting mobility opportunities is likely to reinforce barriers to the inclusion of underrepresented talent groups, including women.’

The PwC report, Women of the world: aligning gender diversity and international mobility in financial services, is here